Common use of Lessor Default Clause in Contracts

Lessor Default. Lessor’s failure to perform or observe any of its obligations under this Lease within thirty (30) days after receipt of written notice from Lessee setting forth in reasonable detail the nature and extent of the failure (or if more than thirty (30) days is required to cure the breach, Lessor’s failure to begin curing within the thirty (30) day period and diligently prosecute the cure to completion) shall constitute a default (“Lessor Default”) . Any notices given by Lessee hereunder shall also be delivered simultaneously to the holder of any mortgage, the name and address of which have been provided to Lessee, and such holder shall have the right to cure such Lessor Default on Lessor’s behalf. If Lessor commits a Lessor Default, Lessee may, without waiving any claim for damages for breach of agreement or any other rights or remedies it may have under this Lease at law, at any time thereafter: Cure the Lessor Default for the account of the Lessor, and any amount paid or any contractual liability incurred by Lessee in so doing shall be deemed paid or incurred for the account of Lessor, and Lessor shall reimburse Lessee promptly after receipt of paid invoices. If Lessor fails to reimburse Lessee for any such sum within twenty (20) days after delivery of invoices, Lessee may commence an action to collect such sum, plus interest at the rate of fourteen percent (14%) per annum from the date of final judgment until paid. Lessee shall not be entitled to offset against rent until Lessee obtains a judgment against Lessor.

Lessor Default. Lessor’s The LESSOR further covenants with the LESSEE that if LESSOR shall fail to perform any provision of this Lease which requires the payment of money, and such failure shall continue for ten (10) days after notice has been given to LESSOR; or if LESSOR fails to perform any other provision of this Lease and such failure to perform or observe any of its obligations under this Lease is not cured within thirty (30) days after receipt of written notice from Lessee setting forth in reasonable detail the nature and extent of the failure has been given to LESSOR (or if more than such default cannot reasonably be cured within thirty [30] days, if LESSOR fails either to commence to cure the default within said thirty [30] day period or to diligently and in good faith continue to cure said default) then, and in addition to the other remedies or courses of action now or hereafter provided by law, LESSEE may, at its option, among other things, cancel and annul this Lease, or remedy the condition or need referred to in such notice, or make the payment which LESSOR has not made, but should have made, or remedy the condition or need referred to in such notice and deduct LESSEE'S actual cost or the amount of the payment thereof from subsequent installments of rent. In the event of any dispute between the parties as to the right of LESSEE to such deduction, LESSOR further covenants and agrees that it will not give LESSEE any notice of default or termination of this Lease unless LESSEE shall fail to pay to LESSOR the amount of any such deduction within ten (10) days after receipt of notice by LESSEE of a final and unappealable judgment with respect thereto in favor of LESSOR. If LESSEE elects, as permitted herein, to make an expenditure and deduct the same from subsequent installments of rent, LESSEE shall be required to deposit an amount equal to each such deduction in an interest-bearing account at a bank or savings and loan institution; such account shall require the signatures of LESSOR and LESSEE for any withdrawal. Interest earned on such account shall accrue for the benefit of the party (LESSOR or LESSEE) who ultimately prevails on the issue of whether such deduction was proper. If it is ultimately determined that any part of such deduction was proper (because such part of the expenditure for which such deduction was made was an obligation of LESSOR under this Lease), then LESSEE shall be entitled to receive, from the deposit account, the principal and interest attributable to said portion of such expenditure, and LESSOR shall pay to LESSEE the difference between: 1) the interest actually earned in such interest-bearing account with respect to said portion of such expenditure; and 2) the maximum amount of interest which an individual is permitted to charge under California law, for the period commencing with the date of such expenditure by LESSEE and terminating when such payment is made by LESSOR, based upon the principal amount of that part of such expenditure which has been so determined to be LESSOR'S obligation. If it is ultimately determined that any part of such deduction was improper (because such part of the expenditure for which such deduction was made was not an obligation of LESSOR under this Lease), then LESSOR shall be entitled to receive from the deposit account the principal and interest attributable to said portion of such expenditure, and LESSEE shall pay to LESSOR the difference between: i) the interest actually earned in such interest-bearing account with respect to said portion of such expenditure; and ii) the maximum amount of interest which an individual is permitted to charge under California law, for the period commencing with the date of such deduction by LESSEE and terminating when such payment is made by LESSEE, based upon the principal amount of that part of such expenditure which has been so determined not to have been LESSOR'S obligation. In the event that a mortgagee (or beneficiary under a deed of trust) holding a security interest in the premises shall have furnished written request to LESSEE, LESSEE, concurrent with furnishing any notice to LESSOR of an event which is alleged by LESSEE to constitute a default by LESSOR, or will constitute a default by LESSOR if not cured within a stated period of time, shall be furnished in duplicate to the address as requested by such secured lender. The mortgagee (or beneficiary under deed of trust) will be permitted to tender a cure in like manner as LESSOR is permitted hereunder provided such lender shall be granted additional time, not to exceed thirty (30) days is required days, to cure the breach, Lessor’s failure to begin curing within the thirty (30) day period and diligently prosecute the cure to completion) shall constitute a default (“Lessor Default”) . Any notices given by Lessee hereunder shall also be delivered simultaneously to the holder of any mortgage, the name and address of which have been provided to Lessee, and complete such holder shall have the right to cure such Lessor Default on Lessor’s behalf. If Lessor commits a Lessor Default, Lessee may, without waiving any claim for damages for breach of agreement or any other rights or remedies it may have under this Lease at law, at any time thereafter: Cure the Lessor Default for the account of the Lessor, and any amount paid or any contractual liability incurred by Lessee in so doing shall be deemed paid or incurred for the account of Lessor, and Lessor shall reimburse Lessee promptly after receipt of paid invoices. If Lessor fails to reimburse Lessee for any such sum within twenty (20) days after delivery of invoices, Lessee may commence an action to collect such sum, plus interest at the rate of fourteen percent (14%) per annum from the date of final judgment until paid. Lessee shall not be entitled to offset against rent until Lessee obtains a judgment against Lessorcure.

Lessor Default. Lessor’s failure to perform or observe any of its obligations Lessor shall be in default under this Lease within if (i) Lessor fails to observe or perform any provision, covenant, or condition required to be kept or performed by Lessor pursuant to the terms of this Lease, where such failure continues for thirty (30) days after receipt of written notice thereof from Lessee setting forth in reasonable detail to Lessor; provided that if the nature and extent of such default is such that the failure (or if more than thirty (30) days is required to cure the breach, Lessor’s failure to begin curing same cannot reasonably be cured within the a thirty (30) day period, Lessor shall not be deemed to be in default if it diligently commences such cure within such period and thereafter diligently prosecute proceeds to rectify and cure such default, or (ii) Lessor shall have failed to deliver (or provide comments to) the documents in the time periods required of it pursuant to Section 20 of the Original Lease, as amended, within an additional five (5) business days after written notice from Lessee of Lessor’s failure to comply within the referenced time periods. The parties acknowledge that Lessor’s failure to pay any monetary obligations owed to Lessee shall not in any event allow any extension of the initial thirty (30) day cure to completion) shall constitute a default (“Lessor Default”) period set forth above. Any notices given final award, which is not subject to appeal, from a court or arbitrator in favor of Lessee requiring payment by Lessee hereunder shall also be delivered simultaneously to the holder of any mortgage, the name and address of which have been provided to Lessee, and such holder shall have the right to cure such Lessor Default on Lessor’s behalf. If Lessor commits a Lessor Default, Lessee may, without waiving any claim for damages for breach of agreement or any other rights or remedies it may have under this Lease which is not paid by Lessor within the time period directed by such award (together with interest at lawthe interest rate set forth in Section 18 of this Lease from the date Lessor was required to pay such amount until such offset occurs), at any time thereafter: Cure the Lessor Default for the account of the Lessor, and any amount paid or any contractual liability incurred may be offset by Lessee from Rent next due and payable under this Lease. Notwithstanding anything to the contrary contained in so doing shall be deemed paid or incurred for the account Lease, in the event this Lease is terminated as a result of Lessor’s default, and Lessor shall reimburse Lessee promptly after receipt of paid invoices. If Lessor fails to reimburse Lessee for any Prepaid Rent in excess of the Rent due and payable by Lessee to Lessor through and including such sum early termination date, if any, within twenty ten (2010) business days after delivery of invoices, Lessee may commence an action to collect such sum, plus interest at the rate of fourteen percent (14%) per annum from the date of final judgment until paid. Lessee shall not be entitled to offset against rent until Lessee obtains a judgment against Lessortermination.”

Lessor Default. Lessor’s failure to perform or observe any of its obligations under this Lease within thirty (30) days after receipt of written notice from Lessee setting forth in reasonable detail the nature and extent The occurrence of the failure (or if more than thirty (30) days is required to cure the breach, Lessor’s failure to begin curing within the thirty (30) day period and diligently prosecute the cure to completion) following shall constitute an event of default of Lessor (a default (“Lessor Default”) . Any notices given ): The failure of Lessor to perform any material obligations under this Lease, unless such failure is caused by a Force Majeure Event, a Lessee hereunder shall also be delivered simultaneously to the holder Default or Seller Event of any mortgageDefault; provided, the name and address of which have been provided to Lesseehowever, and such holder failure continues for [fifteen (15)] Business Days after Lessee shall have given Notice demanding that such failure to perform be cured; or A Purchaser Event of Default under Section 12 of the right to PPA, which default continues beyond any applicable notice and cure such Lessor Default on Lessor’s behalfperiod contained in the PPA. If Lessor commits Upon the occurrence of a Lessor Default, Lessee may, without waiving Xxxxxx may pursue any claim for damages for breach of agreement or any other rights or remedies it may have under this Lease at lawthe terms of Section 12 of the PPA. [Fee Mortgages. To the extent there any mortgages, deeds of trust, or other indentures encumbering the Project Site as of the Effective Date (each, a “Fee Mortgage”), Lessor shall, on or before the Effective Date, use commercially reasonable efforts to obtain from the holder of each such Fee Mortgage a non-disturbance and attornment agreement, in a form acceptable to Lessee (each, an “SNDA”), pursuant to which the holder of each such Fee Mortgage shall agree that, upon it or its successors and assigns obtaining title to the Project Site (whether through a foreclosure proceeding or through acceptance of a deed in lieu of foreclosure) following an event of default by the Lessor under such Fee Mortgage, the holder of such Fee Mortgage or the purchaser of the Project Site at any time thereafter: Cure foreclosure proceeding shall continue to recognize Lessee’s leasehold interest in the Lessor Default Demised Premises for the account balance of the Lessorterm of this Lease, so long as Lessee is not then in default hereunder beyond any applicable notice and any amount paid or any contractual liability cure periods provided for herein. Promptly following the Effective Date, each SNDA shall be recorded in the Clerk’s Office at Lessee’s sole cost and expense, and, within ten (10) Business Days of Lessee’s receipt of a written statement from Lessor setting forth all out-of-pocket costs incurred by Lessor in obtaining each such SNDA, together with such supporting documentation as Lessee in so doing shall be deemed paid or incurred for the account of Lessormay reasonably require, and Lessor Lessee shall reimburse Lessee promptly after receipt of paid invoices. If Lessor fails to reimburse Lessee for any such sum within twenty (20) days after delivery of invoices, Lessee may commence an action to collect such sum, plus interest at the rate of fourteen percent (14%) per annum from the date of final judgment until paid. Lessee shall not be entitled to offset against rent until Lessee obtains a judgment against Lessorcosts.